2 Bed Flat, Single Let, Gateshead, NE8 4RX, £85,000

Fern Dene Road, Gateshead , NE8 4RX - 2 views - 3 months ago

Sold STC
Leasehold
BTL
ROI: 9%
~68 m²
+2 photos

ValuationOvervalued

Sold Prices£53K - £120K
Sold Prices/m²£795/m² - £1.8K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1.2K/m²

Value Estimate

£79,285

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£21,250

Stamp Duty & Legal Fees

£3,750

Total Cash In

£25,000

 

 

Cash Out

 

Rent Range

£590 - £1,850

Rent Estimate

£599

Running Costs/mo

£405

Cashflow/mo

£194

Cashflow/yr

£2,323

ROI

9%

Gross Yield

8%

Local Sold Prices

50 sold prices from £53K to £120K, average is £79.5K. £795/m² to £1.8K/m², average is £1.2K/m².

PriceDateDistanceAddressBeds 
£106K06/230.01 mi20, Fern Dene Road, Gateshead, Tyne And Wear NE8 4RX2
£94K05/210.01 mi77, Fern Dene Road, Gateshead, Tyne And Wear NE8 4RT2
£79K04/210.05 mi229, Rectory Road, Gateshead, Tyne And Wear NE8 4RS2
£103K10/200.05 mi291, Rectory Road, Gateshead, Tyne And Wear NE8 4RS2
£97K06/230.09 mi106, Windsor Avenue, Gateshead, Tyne And Wear NE8 4NX2
£80K04/230.09 mi93, Fern Dene Road, Gateshead, Tyne And Wear NE8 4RU2
£62K12/200.1 mi221, Rawling Road, Gateshead, Tyne And Wear NE8 4QU2
£90K07/210.12 mi169, Westbourne Avenue, Gateshead, Tyne And Wear NE8 4NR2
£74.5K04/210.14 mi275, Westbourne Avenue, Gateshead, Tyne And Wear NE8 4NS2
£114.8K08/230.14 mi28, Saltwell View, Gateshead, Tyne And Wear NE8 4NT2
£90K10/210.15 mi76, Faraday Grove, Gateshead, Tyne And Wear NE8 4UL2
£69K04/230.15 mi35, Faraday Grove, Gateshead, Tyne And Wear NE8 4UL2
£55K10/230.15 mi23, Faraday Grove, Gateshead, Tyne And Wear NE8 4UL2
£77K11/200.15 mi78, Faraday Grove, Gateshead, Tyne And Wear NE8 4UL2
£65K12/200.15 mi82, Windsor Avenue, Gateshead, Tyne And Wear NE8 4NG2
£83.3K07/230.16 mi17, Windsor Avenue, Gateshead, Tyne And Wear NE8 4NU2
£96K11/210.16 mi223, Eastbourne Avenue, Gateshead, Tyne And Wear NE8 4NL2
£101K09/230.16 mi183, Eastbourne Avenue, Gateshead, Tyne And Wear NE8 4NL2
£85K11/210.16 mi163, Eastbourne Avenue, Gateshead, Tyne And Wear NE8 4NL2
£91.5K04/240.16 mi123, Eastbourne Avenue, Gateshead, Tyne And Wear NE8 4NJ2
£104K01/230.17 mi231, Eastbourne Avenue, Gateshead, Tyne And Wear NE8 4NN2
£62.5K05/210.17 mi52, Westbourne Avenue, Gateshead, Tyne And Wear NE8 4NP2
£55.5K02/210.17 mi30, Westbourne Avenue, Gateshead, Tyne And Wear NE8 4NP2
£71.8K11/210.17 mi207, Whitehall Road, Gateshead, Tyne And Wear NE8 4PS2
£88K07/230.18 mi35, Westbourne Avenue, Gateshead, Tyne And Wear NE8 4NF2
£58.5K03/240.18 mi157, Rawling Road, Gateshead, Tyne And Wear NE8 4QT2
£73K04/210.18 mi120, Rawling Road, Gateshead, Tyne And Wear NE8 4QT2
£70K03/230.18 mi169, Rawling Road, Gateshead, Tyne And Wear NE8 4QT2
£120K06/230.18 mi249, Eastbourne Avenue, Gateshead, Tyne And Wear NE8 4NN2
£70K09/210.18 mi238, Whitehall Road, Gateshead, Tyne And Wear NE8 4PU2
£75K08/210.18 mi244, Whitehall Road, Gateshead, Tyne And Wear NE8 4PU2
£87K12/220.18 mi89, Westbourne Avenue, Gateshead, Tyne And Wear NE8 4NF2
£60K03/210.2 mi239, Whitehall Road, Gateshead, Tyne And Wear NE8 4PT2
£58.8K03/210.21 mi31, Hyde Park Street, Gateshead, Tyne And Wear NE8 4QB2
£58.8K03/210.21 mi29, Hyde Park Street, Gateshead, Tyne And Wear NE8 4QB2
£95K09/210.22 mi159, Brinkburn Avenue, Gateshead, Tyne And Wear NE8 4JX2
£84K02/210.22 mi190, Brinkburn Avenue, Gateshead, Tyne And Wear NE8 4JX2
£68K02/210.22 mi143, Brinkburn Avenue, Gateshead, Tyne And Wear NE8 4JX2
£96K10/230.22 mi146, Brinkburn Avenue, Gateshead, Tyne And Wear NE8 4JX2
£100K06/230.22 mi159, Brinkburn Avenue, Gateshead, Tyne And Wear NE8 4JX2
£78K07/230.22 mi162, Brinkburn Avenue, Gateshead, Tyne And Wear NE8 4JX2
£115K12/230.22 mi186, Brinkburn Avenue, Gateshead, Tyne And Wear NE8 4JX2
£95K08/230.22 mi26, Curzon Street, Gateshead, Tyne And Wear NE8 1YD2
£53K11/200.23 mi85, Rodsley Avenue, Gateshead, Tyne And Wear NE8 4LA2
£84.5K02/230.23 mi17, Rodsley Avenue, Gateshead, Tyne And Wear NE8 4JY2
£61K10/200.23 mi83, Rodsley Avenue, Gateshead, Tyne And Wear NE8 4JY2
£64K01/230.25 mi15, Saltwell Street, Gateshead, Tyne And Wear NE8 4QX2
£71K09/230.25 mi97, Rectory Road, Gateshead, Tyne And Wear NE8 1XJ2
£82K07/210.25 mi25, Macadam Street, Gateshead, Tyne And Wear NE8 4TS2
£62K03/240.25 mi45, Saltwell Street, Gateshead, Tyne And Wear NE8 4QX2

Local Rents

53 rents from £590/mo to £1.9K/mo, average is £725/mo.

RentDateDistanceAddressBeds 
£69507/240.01 miFern Dene Road, Gateshead, NE82
£67504/240.01 mi-2
£95006/240.02 miFern Dene Road, Gateshead, NE82
£75006/240.03 miBrighton Road, Gateshead, NE82
£75006/240.03 mi-2
£69512/240.03 mi-2
£59007/230.04 mi-2
£65007/240.04 miBrighton Road, Gateshead2
£82002/240.05 mi-2
£69503/250.07 mi-2
£64010/240.09 mi-2
£65012/240.1 mi-2
£70001/250.1 mi-2
£67506/240.1 miWindsor Avenue, Gateshead2
£70006/240.11 mi-2
£65006/240.11 miRectory Road, Bensham, Gateshead, Tyne and Wear, NE8 4RQ2
£75001/250.11 mi-2
£62510/230.11 mi-2
£70006/240.14 miWestbourne Avenue, Gateshead2
£85007/240.14 mi183 Rectory Road, Gateshead, Tyne And Wear, NE82
£80009/240.14 mi-2
£72506/240.14 miSaltwell View, Gateshead, Tyne And Wear, NE82
£80008/240.14 mi-2
£80006/240.14 miWestbourne Avenue, Gateshead, NE82
£59503/240.16 mi-2
£75004/240.16 mi-2
£75006/240.16 miEastbourne Avenue, Gateshead, NE82
£59506/240.16 miRayleigh Grove, Gateshead, NE82
£65006/240.16 mi-2
£60011/240.18 mi-2
£75002/250.18 mi-2
£89506/240.18 miField House Road, Saltwell, Gateshead, NE82
£69507/240.18 miWindsor Avenue, Gateshead2
£75007/240.19 miWestminster Street, Gateshead2
£1,85006/240.19 mi-2
£1,85006/240.19 mi-2
£1,85006/240.19 mi-2
£1,85012/240.19 mi-2
£1,85012/240.19 mi-2
£1,85012/240.19 mi-2
£1,85012/240.19 mi-2
£1,75003/250.19 mi-2
£65006/240.19 miWestbourne Avenue, Gateshead2
£65002/240.2 mi-2
£75012/240.2 mi-2
£89509/240.2 mi-2
£69507/240.2 miEastbourne Avenue, Gateshead2
£72507/240.2 miWhitehall Road, Bensham, Gateshead, Tyne And Wear, NE82
£85005/230.2 mi-2
£65007/240.2 miBrinkburn Avenue, Gateshead2
£70002/240.21 mi-2
£75009/230.21 mi-2
£72507/240.22 miBrinkburn Avenue, Bensham, Gateshead, Tyne And Wear, NE82

Local Area Statistics

Population in NE8

32,358

Population in Gateshead

122,353

Town centre distance

1.06 miles away

Nearest school

0.10 miles away

Nearest train station

1.02 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+64%

Sales demand

Balanced market

Capital growth (5yrs)

+15%

Property History

Listed for £85,000

December 26, 2024

Description

  • Two Bedroom Ground Floor Flat +
  • Perfect for First Time Buyers or Investors +
  • Close to Popular Saltwell Park +
  • Modern Fitted Kitchen, Great for Cooking +
  • Close to Amenities & Transport Links +
  • Early Viewing Advised +
  • Reference: 460004 +

Situated just a stone's throw from the ever-popular Saltwell Park, this well-presented two-bedroom ground-floor flat combines convenience, comfort, and an ideal location. Perfectly suited for first-time buyers stepping onto the property ladder or investors seeking to expand their portfolio, this property offers excellent value in a desirable area. The home is warmed by gas central heating and features Upvc double glazing throughout and is situated on Fern Dene Road, the property enjoys excellent transport links, with bus routes providing direct access to Gateshead Town Centre, Newcastle City Centre, and the Metrocentre, making it an excellent choice for commuters and city lovers alike. Upon entering the property the hallway leads to a good size lounge, continuing onto a modern fitted kitchen practical for cooking and everyday living, along with a modern bathroom. There are two bedrooms one located to the front and the other to the rear. Externally, an enclosed rear yard. Early viewing is highly recommended to truly appreciate.
ENTRANCE HALLWAY
Giving access to the accommodation. Built in storage cupboard.
LOUNGE 4.27m (14') x 3.05m (10') exc alcoves
Located to the rear of the property with feature fireplace and window to rear.
KITCHEN 2.62m (8'7) x 2.39m (7'10)
The kitchen is located to the rear elevation of the flat, with access from the lounge and fitted with a range of cherry coloured wall and base storage units, finished with roll top laminated counters and ceramic tiled splash backs. In addition to which the kitchen benefits from plumbing for a washing machine, integrated stainless steel electric oven with gas hob over, stainlees steel chimney hood, external door to the private yard, space to accommodate a fridge/freezer, cushion style flooring and an inset sink and drainer with mixer tap.
MAIN BEDROOM 5.41m (17'9) into bay x 4.01m (13'2) into alcoves
The main bedroom occupies a position to the front, a double room with feature bay window.
REAR BEDROOM 4.27m (14') into recess x 2.36m (7'9)
With window to rear.
BATHROOM
The bathroom is fitted with a white three piece suite comprising of panel style bath with over bath shower and shower screen, low level button flush w.c. and pedestal hand wash basin. Tiled splash backs and window to rear.
REAR YARD
An enclosed private rear yard.
Tenure
The property is Leasehold with a term of 999 years from 9th january 2015.
Money Laundering Regulations
Please note that any offers will require you to be financially verified, meaning you'll need to provide us sight of a mortgage in principle, proof of deposit funds, and proof of cash. You'll also need to provide us with full chain details including agents and solicitors down the chain. To comply with Money Laundering Regulations all buyers will be required to provide us with proof of identification before we can issue acceptance letters and solicitors are instructed.
Tenure
We will provide as much information about tenure as we are able to and in the case of leasehold properties, we can in most cases provide a copy of the lease. They can be complex and buyers are advised to take legal advice upon the full terms of a lease. Where a lease is not readily available we will apply for a copy and this can take time.
Broadband & Mobile Coverage
The Ofcom website states the average broadband download speed of 7 Mbps and a maximum download speed of 1800 Mbps at this postcode: NE8 4RX and mobile coverage is provided by EE, Three, O2. Vodafone. The checker results are predictions and should not be regarded as guaranteed.
Council Tax
The GOV.UK website states the property is Council Tax Band: A
AGENTS NOTE
We would point out that the owner is a Director of Andrew Craig Ltd and has a financial interest in this property. We would confirm that the sale and all negotiations in respect of this shall be dealt with by applying all Company procedures in accordance with guidelines.

EPC Rating: C

Agent Details

Andrew Craig, Low Fell

0191 625 0115

Next Steps?

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